KPG to Acquire Color Business

Last month, Kodak Polychrome Graphics (KPG), Norwalk, Conn., announced are agreement with Imation Corp., Oakdale, Minn., to acquire its worldwide color proofing and color software business, including its Matchprint line of color proofing systems, for $50 million in cash.

KPG is to acquire Imation's full portfolio of color proofing, film, plate, and color software offerings, as well as Imation's Color Technologies manufacturing facility in Weatherford, Okla. Some 500 employees will transfer to KPG as part of the transaction, expected to close by year-end.

"Upon completion of this acquisition," says KPG chief executive Jeff Jacobson, "customers of both companies, and the industry, will benefit from even greater choices in color proofing and the management of color."